Colorado drags down national marijuana prices in first half of 2017 #GODER

The price of a pound of legal marijuana continues to plummet in 2017, according to a new report tracking the commodity’s U.S. spot price index.

Wholesale cannabis prices dropped 18.6 percent nationwide in the first half of 2017, with Colorado prices dropping by up to 40 percent compared to the first half of last year, according to Cannabis Benchmarks’ “2017 Mid-Year Wholesale Market Report.” Similar to commodities like gold and oil, the Denver-based independent price reporting agency tracks spot prices — the current value in the marketplace at which an asset can be bought or sold for immediate delivery.

Despite the overall decline, marijuana prices showed “remarkable” stability considering last year’s price volatility and recent political uncertainty, the analysts found. For the first six months of this year, there has only been a $150 difference between the low and high prices for legal cannabis nationally, compared to nearly $300 separating the lows and highs during the first half of 2016.